How Norway’s State Manages Its Ownership Of Companies

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In this piece, I outline the ways in which Norway's social wealth fund exercises its ownership rights. Norway is an active investor that uses every channel available to influence the companies it owns stock in. This includes shareholder proposals, shareholder votes, discussions with companies, publishing position papers, and excluding some companies from investment altogether. For each type of influence channel, the fund establishes guidelines of behavior and then applies those guidelines on a case-by-case basis